National
Economy Watch: Homebuilders’ Optimism Edges Down
Following a four-point uptick last month, builder confidence in the market for newly built single-family homes fell one point in December to 57 on the National Association of Home Builders/Wells Fargo Housing Market Index.
TODAY’S DEALS: Atlanta is Hot, Boston Capital Knows It
Boston Capital buys 294 units from MTS in a JLL-brokered sale; ARA completes an 80-unit sale in Fort Worth; and NorthMarq arranges a $28.5 million refinancing for a California community.
Economy Watch: Oil Continues Precipitous Price Drop
The price of crude oil, which is an international commodity, got another downward push when the energy minister of the UAE said that OPEC isn’t going to reverse its recent decision not to cut oil production, even if oil prices go as low as $40 a barrel.
TODAY’S DEALS: 1,651-Unit Portfolio Trades Hands in Michigan’s Largest Transaction for 2014
Marcus & Millichap completes Michigan’s largest sale for 2014; M-M Properties picks up 292 units in Houston; and Berkadia originates a $25 million construction loan for a mid-rise.
Economy Watch: Retail Sales See Healthy Uptick
The Census Bureau reported that U.S. retail and food services sales for November came in at $449.3 billion, an increase of 0.7 percent from the previous month, and 5.1 percent above November 2013.
TODAY’S DEALS: Morgan, Olayan Snag 800 Units in Maryland
Nearly 800 units trade hands in Maryland; a mixed-use portfolio sells in Manhattan for the first time in 30 years; and Grosvenor Americas sells Puget Sound apartments for $25.5 million.
Economy Watch: Service Industries Generally Enjoy Healthy Revenue Growth
The Census Bureau released its third-quarter revenue estimates for a number of U.S. service industries on Wednesday, adjusted for seasonal variation but not for price changes.
TODAY’S DEALS: Behringer Grabs 435 Units in Dallas from Greystar
Behringer Harvard Opportunity REIT II Inc. completes a Dallas acquisition; HFF arranges $100.7 million for a development in Honolulu; and Hunt Mortgage Group refinances a multifamily property in Alabama.
Economy Watch: Job Openings Edge Up in October
There were 4.8 million U.S. job openings on the last business day of October, according to the Bureau of Labor Statistics in its Job Openings and Labor Turnover Survey.
TODAY’S DEALS: McDowell Buys 242-Unit Asset from Waterton
ARA brokers a $32.4 million sale in Pittsburg, Calif.; Gebroe-Hammer completes 12 sales totalling 463 units; and Red Mortgage originates $1.8 million FHA 223(f) refinance for a seniors housing property.